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Jan 24, 2013
01/13
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also powering the rally, news that washington lawmakers passed a short term debt ceiling deal. the u.s. house of representatives gave the okay to a republican plan to suspend the debt limit until may 19. democrats in the senate now say they'll pass it too. darren gersh reports. >> reporter: the debt ceiling suspension came with a couple strings attached. if senate democrats don't pass a budget-- something they haven't done for four years-- members of congress won't get paid until they do. >> this bill simply says, "congress, do your job." when i grew up in wisconsin, if you had a job and you did the work, then you got paid. if you didn't do the work, you didn't get paid. it's that simple. >> house democrats called the pay ploy a gimmick and said a 90 day reprieve from default simply moves the crisis back. >> for the last two years, we've heard from our republican colleagues economic uncertainty is bad for the economy. guess what? it is. and yet that's exactly what you are doing. another big dose of economic uncertainty. >> reporter: republicans shifted gears on the debt ceiling
also powering the rally, news that washington lawmakers passed a short term debt ceiling deal. the u.s. house of representatives gave the okay to a republican plan to suspend the debt limit until may 19. democrats in the senate now say they'll pass it too. darren gersh reports. >> reporter: the debt ceiling suspension came with a couple strings attached. if senate democrats don't pass a budget-- something they haven't done for four years-- members of congress won't get paid until they do....
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Jan 28, 2013
01/13
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the next thing is the debt ceiling which was a big leverage point and republicans kicked that can down the road. all you have left is the sequester. a lot of votes stores are on the sidelines worried about political risk and but a lot of political risk has been removed. tracy: you said kicked down the road but it will come back. you're talking about short-term euphoria for a while, correct? >> correct. the fed money policy is a huge driver. they're in the process of a financial repression regime where you look at different asset classes like treasury bonds. they're incredibly expensive. you don't make anything after cash. you lose money after inflation, right? tracy: right. >> what are your options? they're trying to drive people into risk assets. as investors look into high-yield bond or certain types of mortgage-backed securities they have become very rich. the only thing really left is equities. it is almost a process of elimination for investors. they end up driving equities higher. tracy: that's what we've seen in the month of january, we've seen a lot of inflows into the market.
the next thing is the debt ceiling which was a big leverage point and republicans kicked that can down the road. all you have left is the sequester. a lot of votes stores are on the sidelines worried about political risk and but a lot of political risk has been removed. tracy: you said kicked down the road but it will come back. you're talking about short-term euphoria for a while, correct? >> correct. the fed money policy is a huge driver. they're in the process of a financial repression...
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Jan 29, 2013
01/13
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the debt ceiling debate has been delayed for three months no. reason why the market can't keep running at this point just because there's no obvious catalyst to run into, but at some point, whether it's the revenue growth or something out of washington, you know, i think we'll -- we're due for a pause if not outright correction. >> fundamentals matter. >> sooner or later they do. >> please, go ahead. >> just going to mention two cautionary notes here. even though i'm pretty constructive on the economy i'll give you a good reason to worry about april sis the sequestering right? i think markets have gotten very comfortable with the washington dysfunction going on because they keep going up at the deadline and then fix the problem without damage to the economy and my sense is sequester happening, $100 billion out of the economy, is actually on the high side and i don't think that's built into the market and the other thing, the last time the market was at these levels, the size of the economy was only a little bit smaller than it was now, profits a
the debt ceiling debate has been delayed for three months no. reason why the market can't keep running at this point just because there's no obvious catalyst to run into, but at some point, whether it's the revenue growth or something out of washington, you know, i think we'll -- we're due for a pause if not outright correction. >> fundamentals matter. >> sooner or later they do. >> please, go ahead. >> just going to mention two cautionary notes here. even though i'm...
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Jan 24, 2013
01/13
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we know the consumer confidence took a six-month hit because of the debt ceiling fight. so, to take that off the table as a big washington fight helps a lot, i think. >> certainly, the markets, a lot of people pointing to one reason, you have had a pretty nice string of gains here that debate, at least the deadline pushed back a bit. where does the conversation now begin when it comes to real reform? who instigate it is and how constructive do you think it's going to be? >> i think we can build upon some of the previous efforts. we had an agreement in 2011 which allowed us to reduce spending and we can do that again. at the end to of this year so the called fiscal cliff deal i think was further evidence when you get 89 united states senators voting for that end of the year agree respect, the deal was perfect and had all kinds of frustrations associated with it, but we have to keep building upon what is some good developments in bipartisan consensus. i can't speak to the house but i think there is a willingness on both sides senate to build on those efforts. >> what do yo
we know the consumer confidence took a six-month hit because of the debt ceiling fight. so, to take that off the table as a big washington fight helps a lot, i think. >> certainly, the markets, a lot of people pointing to one reason, you have had a pretty nice string of gains here that debate, at least the deadline pushed back a bit. where does the conversation now begin when it comes to real reform? who instigate it is and how constructive do you think it's going to be? >> i think...
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Jan 24, 2013
01/13
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CURRENT
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debt ceiling, and then put the pressure on somebody else, namely the senate. but they are going to put forth a budget pretty soon that is really going to be an important % contrast for the american people to see. they are going to try to balance the budget in ten years, which you cannot do without slashing medicare and medicaid, and social security. so the american people will get, i think, a very good look at the way republicans want to balance the budget and do deficit reduction and the way democrats do. we actually went through this with paul ryan's budget which was so egregious the leader of his party had to back away from it in the campaign. >> stephanie: yeah, it was seen as sort of a slap at the senate but they are calling it the no budget, no pay idea. it has been regarded by a lot of people as a gimmick. here they go. it's a new way to play some sort of partisan games right? >> exactly. and it doesn't guarantee that there will be a compromised budget agreement between the house and senate. they can pass one, just as the house can pass one. and that's
debt ceiling, and then put the pressure on somebody else, namely the senate. but they are going to put forth a budget pretty soon that is really going to be an important % contrast for the american people to see. they are going to try to balance the budget in ten years, which you cannot do without slashing medicare and medicaid, and social security. so the american people will get, i think, a very good look at the way republicans want to balance the budget and do deficit reduction and the way...
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Jan 30, 2013
01/13
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CNN
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if we want to see it on the debt ceiling it starts by these things where we can agree, where we can move things forward and as mary said which was a good point, dear, that the president can make the tone, either he can create a battle on this or he can try to bring people together. >> well he can, and i'm sorry for interrupting you, sweetheart, but you can. >> so sweet. >> he is capable of bringing people together. if he changes his rhetoric, he still is in campaign mode. i say this with great respect. and he knows it, but it's like give other members of congress a chance to be a part of the process. >> that's why i keep saying stop asking him lean on it. tell congress this is why you're there. you can lead on this, mcconnell, reid, pelosi, boehner, you lead. >> that's exactly what they did, that's exactly what they did. >> cool. >> the debate as you can tell heated at times. thanks guys, i appreciate that. >>> ahead we'll talk more about alex rodriguez and several other major league baseball players named in the new doping scandal. we'll look at just how dangerous these performance-enha
if we want to see it on the debt ceiling it starts by these things where we can agree, where we can move things forward and as mary said which was a good point, dear, that the president can make the tone, either he can create a battle on this or he can try to bring people together. >> well he can, and i'm sorry for interrupting you, sweetheart, but you can. >> so sweet. >> he is capable of bringing people together. if he changes his rhetoric, he still is in campaign mode. i...
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Jan 24, 2013
01/13
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CURRENT
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but i do think the difference here is unlike the debt ceiling which has the huge, global third party implications whether the government refinances itself, this is an invention of congress. they've decided please, tie my hands so i don't do it again. i do think therefore there's flexibility in whether they defer it or somehow play it some other way. >> bill: michael our guest finance writer for yahoo. all of this revolves, of course around the debt and the deficit. isn't it also true that we've made significant paydowns of the debt now and that's not -- so big, right but not as serious a problem as it was a year ago. >> this i think is kind of the under tone. it is not being talked about loudly. i do think it is the context for a lot of decisions. no debt has gotten paid down. we're running annual deficits. the absolute size of the government's debt gets bigger but the size of the deaf -- deficits have gone to under a trillion a year this year which no changes no effort really to actually do anything except for the economy to improve tax receipts to go up and you know, lower spending
but i do think the difference here is unlike the debt ceiling which has the huge, global third party implications whether the government refinances itself, this is an invention of congress. they've decided please, tie my hands so i don't do it again. i do think therefore there's flexibility in whether they defer it or somehow play it some other way. >> bill: michael our guest finance writer for yahoo. all of this revolves, of course around the debt and the deficit. isn't it also true that...
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Jan 29, 2013
01/13
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CURRENT
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part of the point of the short-term debt ceiling extension just passed last week was sort of to try and leverage their position in the sequester-related discussion of $1.2 trillion of autoic spending cuts set to kick in on march 1st which are delayed two months with the fiscal cliff deal. they're hoping to extract spending cuts from president obama. if not that fight, then in the next debt ceiling fight the next debt ceiling fight. the demand nor spending cuts isn't going to go anywhere. >> bill: barney frank, he would be fired up, ready to go. he knows she is issues. he knows the fiscal issues better than anybody else. >> deval patrick said he would be happy to have him. he didn't endorse it per se but he expressed sort of opens to the idea. >> wouldn't be a big learning curve for barney. >> bill: no, not at all. i think it would be very tough for governor patrick not to appoint him. i mean who else could step in and have all of the information and all of the experience you need to really fight for the people. >> i was going to say -- >> bill: now, of course, so is it is sort of a reli
part of the point of the short-term debt ceiling extension just passed last week was sort of to try and leverage their position in the sequester-related discussion of $1.2 trillion of autoic spending cuts set to kick in on march 1st which are delayed two months with the fiscal cliff deal. they're hoping to extract spending cuts from president obama. if not that fight, then in the next debt ceiling fight the next debt ceiling fight. the demand nor spending cuts isn't going to go anywhere....
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Jan 25, 2013
01/13
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MSNBCW
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debt ceiling change, they had to promise that paul ryan was going to produce a budget in a week that would balance the budget in ten years with no revenue increases. >> right. >> now, when you see what is going to happen to spending in order to meet those numbers, i'd like to see her go out there and say, this is the kind of thing the republican party should get behind and run behind because it's going to be ugly. >> richard wolffe, mary matalin is positive. there aren't a lot of republicans right now who are given what's happened. but again, we see shifts in party allegiances fairly quickly. it just does seem like my party is suffering a long-term letdown. to say the least. >> yeah. look, mary has a strong character, as we all know. the truth is that the president actually won and he won pretty big for his ideas. i didn't -- by the way, the president talking about cap and trade in his inaugural. he didn't say how he would address climate change. he said we have to address the impact of it. the question for republicans, i think, is what's the big idea? and it is what you keep advocat
debt ceiling change, they had to promise that paul ryan was going to produce a budget in a week that would balance the budget in ten years with no revenue increases. >> right. >> now, when you see what is going to happen to spending in order to meet those numbers, i'd like to see her go out there and say, this is the kind of thing the republican party should get behind and run behind because it's going to be ugly. >> richard wolffe, mary matalin is positive. there aren't a lot...